Currently driving a fully loaded 22 Honda pilot elite 15 k miles a year. Caught it at a tough time paying 772 a month which is steep for me to be honest. Would really love to move on to an Ev especially given some of the amazing incentives out there. Have three payments left and I’m under mileage on the lease. A waste to be honest.
Onto the next step need a family car AWD 12k per year and ideally would like to stay under $500 a month. Don’t have much wiggle room to put much down given taxes title and fees in Long Island NY would be rough. Some vehicles that I’m looking into are the Hyundai Ioniq lines and Mazda cx90 Phev. Would appreciate any advice and help. Very much new to all this. Thank you!
Over the next 3 months drive it as much as you can and turn in if no significant equity…use the time to go to Wiki here and learn how to use calc or your own spreadsheets to be able to put together target deals.
Login to your HFS account, get the lease payoff, and post it in this thread so we can evaluate.
Follow the instructions in first post to get purchase quotes (pretend you financed it but keep in mind only a honda/acura dealer can buy it out). KBB and other sites are meaningless, we need to know what people would put on the Pilot.
To really evaluate whether it makes sense to exit the Pilot early, we would need numbers from your original deal. If you are, for instance, $2k positive but put $5k down you’re wasting a lot of prepaid utility just to transact. Don’t let the EV tax credit become a coupon burning a hole in your pocket: you’re lucky to realize half that on something that is artificially marked up more than the coupon.
A ZDX might be a cheap solution to the old lease and a new EV deal.
wiser words were never written. Get that read time up.
Spend some time browsing the Marketplace
I think the move in NY is to lease from a brand that offers MSDs out of state. Mazda or Acura would fit that description.
My apologies as im still learning.
My current Honda Pilot now 40k miles
53,857.73 - Adjusted Capital Cost
Lease maturity date Nov 6 2025
Residual value 29,674
My monthly is just too high and im in a bind financially. If I return the lease and look elsewhere will I get hit for tons of fees. Additionally how to leverage for a new lease elsewhere?
Go online to Carmax, Carvana, etc and see what they would give you for the Pilot…compare that to your payoff for an idea of equity/negative equity…go see what a Honda dealer would offer you for it.
